BYD has a much lower price point, which helps drive ownership.
Tesla has kept the price in the luxury car range in order to maintain it's brand.
Outside the SV/HN bubble, the Tesla is viewed as a luxury car
Addendum:
Luxury doesn't imply expensive. It's a branding strategy.
A Gucci bag or iPhone can be purchased with relatively minimal capital outlay, but will continue to hold a social cachet by being marketed as "exclusive" [0]
Just read the case study below to understand the strategy used. Turns out MBAs ain't as useless as HNers like to think
Tesla has kept the price in the luxury car range in order to maintain it's brand.
Outside the SV/HN bubble, the Tesla is viewed as a luxury car
Addendum:
Luxury doesn't imply expensive. It's a branding strategy.
A Gucci bag or iPhone can be purchased with relatively minimal capital outlay, but will continue to hold a social cachet by being marketed as "exclusive" [0]
Just read the case study below to understand the strategy used. Turns out MBAs ain't as useless as HNers like to think
[0] - https://hbsp.harvard.edu/product/SMU954-PDF-ENG?Ntt=Gucci%3A...